Yekaterinburg’s IPI To Go Down 5%

UrBC, Yekaterinburg, November 15, 2017. Yekaterinburg’s industrial production index might decline by 5% next year, according to the city’s economic development forecast that was presented to Yekaterinburg Duma deputies on November 14.

The report was made by Head of Yekaterinburg Council Economics Department Alexei Pryadeyin, who said the city’s IPI was expected to go up 7% in 2018 (compared with 11% growth between January and October 2017).

Pryadeyin also admitted a number of industrial branches fared a bit worse this year than before. For one, the catering and cafe industry has been stagnating for the last few months; the demand for newly commissioned office and shopping space went down by 20% as well (431,000 m2 worth of new commercial estate got commissioned in January-October 2017).

The city council expects 700,000 m2 of new commercial estate and 900,000 m2 of housing to get commissioned by the end of this year. For 2018, the forecast stands at 500,000 m2 of commercial estate and roughly 900,000 m2 of housing.